Grande Prairie March 2013 Housing Stats
The Canadian Real Estate Association has reported that March 2013 represented a weaker housing market in comparison to last year. In March 2012, Canada was in the midst of a hot market. This year activity has declined by 15.3%. However, even with declined activity home prices have still managed to edge higher on average. The national average price for homes sold in Canada rose 2.5% to $378,532.
So how does Grande Prairie compare to this?
March 2012 was a record breaking month for homes sold in our city. According to the Grande Prairie Real Estate Board, home sales in March 2013 were down by 16%. Nonetheless, the average home price did rise to $284,563 which marks an increase of 8%.
Even though the amount of home sales has cooled in comparison to last year, there is still reason for optimism leading into this season. We are fortunate to live in a city where our economy has stabilized since the recent recession. There are numerous opportunities for employment which makes our city a leader in population growth. All signs are pointing to a healthy spring housing market for our city.